I keep trying to imagine what a very painful scenario would be that few are prepared for. I could see BTC linger in this "handle" right around the election. Then depending on who wins it might soar (Trump) or break down for a longer period (Biden). I'm not making a prediction, just an observation. The wait could be a bit shorter if it somehow becomes painfully obvious who the winner of the election is and people try to front-run it.
Also, such a prolonged consolidation till Nov just looks right in terms of time proportion to the cup's base. 🤷
Such a scenario would sure be hurtful for altcoin holders, who might run out of patience and sell, which would be the precursor for going higher.
Also, such a prolonged consolidation till Nov just looks right in terms of time proportion to the cup's base. 🤷
Such a scenario would sure be hurtful for altcoin holders, who might run out of patience and sell, which would be the precursor for going higher.
Note
This path is invalidated given recent price action. I still think we push higher towards year end but have adjusted how that might look like.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.